Bitcoin $BTC and Solana $SOL are among the reserves of another listed company, which, however, wants to do more...
DevvStream Corp. (DEVS), a NASDAQ -listed company, kicked off its cryptocurrency accumulation program with a $10 million purchase of Bitcoin and Solana . The group announced the purchase around market close on Friday. Overall, the group raised approximately $300 million through the issuance of convertible notes .
The group's plans also include the tokenization of carbon credits – which should be issued on the Solana network , which explains the purchase of $SOL alongside Bitcoin.
💥Other plans, this time mixed
DevvStream already manages carbon credits – and is the first in this sector to dedicate a significant amount of money to purchasing cryptocurrencies. This time, however, there's a mix: not just Bitcoin , but also Solana .
The company believes that Bitcoin offers a liquid and uncorrelated store of value and that the performance of the Solana network can support the long-term goals of the sustainability industry, including through tokenization.
This is what the company stated in the press release announcing the first of its $10 million purchases. The company has an additional $290 million available for cryptocurrency purchases.
Implementing our treasury strategy with Bitcoin and Solana marks a key step in bridging the carbon credit market with the digital asset market.
This is the comment of Sunny Trinh, CEO of the group, who confirms the group's desire to bring the two markets closer together and make them synergistic as much as possible.
💥The quantities are not known
It is unclear how much the company in question spent on Bitcoin and Solana, as the only disclosure offered concerns the $10 million spent on BTC and SOL.
The group has already successfully raised $300 million, which it has available to complete further acquisitions. It is unclear at this time why it started with such minimal allocations even compared to the amount of money it managed to raise on the capital markets.
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